GST recommendations will benefit people, strengthen tax structure: Modi

11 November, 2017, 01:46 | Author: Chad Mckenzie
  • Modi govt. has no option but to change GST rates: Chidambaram

"The GST fitment committee has also recommended reducing tax rates from 18% to 12% on a number of goods", Sushil Modi said at a function at the Bihar Chamber of Commerce here.

The Centre on Friday slashed tax rate on a wide range of mass use items -from chewing gums to detergents - to 18 per cent from existing 28 per cent, a move expected to provide much needed relief to consumers after rollout of GST regime on July 1 this year. The move comes after govt faced enormous pressure from opposition-ruled states over keeping mass used goods in the 28 per cent bracket. "It will be applicable from 15th of this month", the Finance Minister said.

The 23rd meeting of the Goods and Services Tax (GST) is now underway and is being chaired by Union Finance minister Arun Jaitley.

Republican Senate nominee Roy Moore accused of sexually assaulting teen girl
The Post's Michael Scherer followed Senate candidate Roy Moore (R) in the final days of his primary campaign against Sen. Among the handful of Senate Republicans who have endorsed Moore, only Mike Lee of Utah weighed in on the allegations.

"All items of common consumption have been reduced from 28 per cent to 18 per cent tax rate". "There is the consensus that slowly 28 per cent slab should be brought to 18 percent".

The panel headed by Assam Finance Minister had also suggested that eating out at hotels that have room tariff of more than Rs. 7,500 should attract a uniform 18 per cent rate instead of any separate category for 5-star hotel, which now falls under the 28 per cent bracket. All these got input tax credit, a facility to set off tax paid on inputs with final tax. So if you go to a restaurant expecting that the bill would be around 500 per person, at the end with the service charges and taxes it would come to be around 700 per person", she said.The Delhi Hotel and Restaurant Owner's Association president, Sandeep Khandelwal, welcomed the lower tax rates and said this would incentivise people to pay taxes."People will not try to cheat on taxes now. The hotels with tariff more than Rs 7500 per night shall be taxed at 18 per cent.

Mr Modi further said that the revenue implication of these will be approximately Rs. 20,000 crore.

Vikings could place Sam Bradford on Injured Reserve
Keenum has gone 4-2 as the starter and will continue to be the starter for the time being, with Bridgewater set to back him up. The Vikings, who lead the NFC North at 6-2, chose to shut down Bradford for the rest of the 2017 regular season.

To ease compliance burden for small businesses, the GST Council is also going to review the requirement of filing three returns every month under the GST set-up.

"The Congress wanted to implement the Goods and Service Tax".

Google to show estimated wait times for restaurants
Google predicts it will be able to offer these wait times for nearly a million restaurants worldwide when the update is completed. Yes, it's an opt-in feature, and yes, you've probably opted-in, because it makes Maps and Search a lot more useful.

Recommended:



Popular

You can now change your name on Twitter
English, on the other hand, does lend itself to crammed tweets with 9% of English tweets hitting the previous 140 character limit. Five hours later, she quoted a tweet with more than 280 characters when a Twitter user insulted her cooking skills .

Veterans Day festivities Friday at Liberty High School
Students at Spring Mills Middle School wave flags during the school's "Veteran's Assembly". Staley High School has held the event every year since their opening in 2008.

Price Of Disney Streaming Service To Be "Substantially" Below Netflix, Inc
Which devices will support it? He also confirmed Disney's upcoming sports SVOD service would be called ESPN+. Close Modal Window Hang on for a minute.we're trying to find some more stories you might like.

Trump bodyguard reportedly testifies Russian official offered Trump women in Moscow
It was published days before Trump's inauguration, and contains many unconfirmed allegations against Trump and his campaign staff. Schiller's lawyer denied leaked accounts of his client's testimony, calling them "blatantly false and misleading".

Doctor Who - New Images - Jodie's Costume
The brunette beauty will be joined by Bradley Walsh, who will play Graham, Tosin Cole as Ryan and Mandip Gill as Yasmin. Usual tradition of the show has The Doctor assuming a certain outfit scheme that embodies their own personality.

Three US aircraft carriers set for joint drill near Korea
Three U.S. nuclear-powered aircraft carrier strike groups will conduct joint drills in the Pacific for the first time in a decade. Pacific Fleet Commander, Admiral Scott Swift, in the statement .

Apple Outbids Netflix for Aniston-Witherspoon Show on Morning TV
This will mark Aniston's first return to a regular series role since " Friends " signed off on NBC back in 2004. Sources describe the pricetag on the show as comparable to other premium fare with big stars attached.

Sheep Can Recognize Celebrity Faces in Photos
First, the team familiarized the sheep with the celebrities' faces by showing the faces opposite a black screen or random objects. The sheep were having two options in each step as a photo of celebrity face or another is of something else.

Reduced Alcohol Intake May Prevent The Chances of Developing Cancer
People living with cancer remain at risk for other cancer and hence should not drink even small or moderate amounts of alcohol. "The talking points that we are telling patients and providers is to decrease your cancer risk, drink less".

Suns deal Bledsoe to Bucks for Monroe, 2 picks
Bledsoe's trade is timely since the Bucks are in a slump, losing their last three games to drop to 4-5 on the season. Bledsoe has been away from the Suns for disciplinary reasons but Milwaukee had no issue with bringing him on board.